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Prospectus - Kingsrose Mining

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Section 8<br />

Independent Geologist’s Report<br />

Geological Investigations Pty Ltd<br />

ABN 69 008 727 820<br />

4 Minim Close<br />

Mosman Park<br />

WESTERN AUSTRALIA 6012<br />

18th October, 2007<br />

The Directors<br />

<strong>Kingsrose</strong> <strong>Mining</strong> Limited<br />

Dear Sirs<br />

INDEPENDENT GEOLOGIST’S REPORT - COMET VALE PROJECT – WESTERN AUSTRALIA<br />

At the request of <strong>Kingsrose</strong> <strong>Mining</strong> Limited (<strong>Kingsrose</strong>), we have prepared an Independent Geologist’s Report<br />

for inclusion in a <strong>Prospectus</strong> to be issued by <strong>Kingsrose</strong> on or about 31 October 2007. The Company seeks to<br />

raise $6,000,000 by the issue of 30,000,000 shares at 20 cents per share.<br />

This report has been prepared in accordance with the Code and Guidelines for the Assessment and Valuation<br />

of Mineral Assets and Mineral Securities for Independent Experts Reports (the Valmin Code) that is binding<br />

upon members of The Australasian Institute of <strong>Mining</strong> and Metallurgy (The Aus.IMM).<br />

The reporting requirements place emphasis on competence, independence, transparency and public material<br />

disclosure so that an informed, impartial reader may be able to make a reasoned judgement as to the merit or<br />

otherwise of the project being reviewed.<br />

Geological Investigations Pty Ltd (GIPL) is an independent geological and exploration consultancy that has<br />

been continuously in operation since 1967, providing services to the mining industry in the fields of geology<br />

and resource evaluation.<br />

GIPL, which operates from offices in Perth, Western Australia has prepared experts reports and mineral asset<br />

valuations on a variety of mineral commodities both in Australia and overseas.<br />

For the purposes of this report the project areas and underground workings were inspected on 8th March<br />

2007, in the company of <strong>Kingsrose</strong> personnel.<br />

GIPL has satisfied itself, and <strong>Kingsrose</strong> has warranted in writing, that all material information in its possession<br />

has been fully disclosed. GIPL has also been given access to relevant data held by the JV partner (Reed<br />

Resources Ltd) and to its geological staff on in both their Perth and Kalgoorlie offices.<br />

A draft of this report was submitted to the Directors of <strong>Kingsrose</strong> for comment in respect of any omissions<br />

and factual accuracy.<br />

The current ownership status and legal standing of the relevant tenements as listed in this <strong>Prospectus</strong>, are<br />

dealt with in a separate Solicitor’s Report in section10.<br />

Page 18

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